NEW YORK, NY - August 18, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Fiserv, Inc. (“Fiserv” or the “Company”) (NYSE: FI) on behalf of investors that purchased or otherwise acquired Fiserv securities between July 24, 2024 and July 22, 2025 (the “Class Period”).
If you are an investor in Fiserv and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than September 22, 2025 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
The complaint alleges that “Fiserv misled investors by artificially inflating its growth numbers through compelled migration of legacy customers using Payeezy, the Company’s older point-of-sale (“POS”) platform, to Clover, its expensive and feature-heavy POS platform.” Additionally, the complaint alleges that “ [a]s this forced migration increased Fiserv’s headline growth numbers, Defendants falsely claimed that this growth was being driven by new customers organically signing up for Clover.” However, according to the complaint, Clover's revenue growth and gross payment volume ("GPV"), the total monetary value of transactions processed through Clover, were temporarily and unsustainably boosted by these forced conversions, which concealed a slowdown in new merchant business.
According to the complaint, the market began to learn the truth on April 24, 2025, when Fiserv reported Clover GPV growth of only 8% for the first quarter of 2025, a material stepdown from 2024 GPV rates of between 14% and 17%. The complaint alleges the Company attributed this slowing growth to lower 2025 transaction volumes from merchants who had converted from Payeezy, Fiserv's older POS platform, to the Company's newer Clover platform.
Following this news, Fiserv's stock price fell $40.20 per share, or 18.5%, to close at $176.90 per share on April 24, 2025.
Finally, on July 23, 2025, according to the complaint, Fiserv lowered the top end of its full-year organic growth guidance range and confirmed that its quarterly organic revenue in the Merchant segment had decelerated to 9% year-over-year from 11% in the previous quarter.
Following this news, Fiserv's stock price fell $22.98 per share, or about 13.9%, to close at $143.00 per share on July 23, 2025.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/fiserv-inc/
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